IRM climbed from $34 back in July to a peak near $40 by September. The stock then put down its base. Now, it breaks through upside resistance with expanding volume. The stock’s momentum indicator is solidly bullish.

Quarterly earnings growth should show a triple digit gain and an acceleration in growth. That is very bullish. This year, analysts are forecasting a 104% surge in net to $2.18 a share from $1.07 a year ago. Going out to 2018, the Street is predicting a 9% rise in net to $2.37 a share from the anticipated $2.18 this year.

The stock has a price-earnings ratio of 18. We see that as reasonable. We are targeting IRM for a move to $48 off this breakout. A protective stop can be placed near $38.